1. I'm sorry... but we are at a critical point where we can no longer tolerate folks willfully ignoring the economics any longer. Stakes are just too damn high.
This Green New Deal we all want? It is LITERALLY only possible with MMT. Period. #PAYGO is a self inflicted gun shot
2. wound to our goals of a Green New Deal. "A new vanguard of economists in Washington, including former Bernie Sanders staffer Stephanie Kelton, has argued that under modern monetary theory, public spending is only constrained when the economy is running at full capacity
3. and inflation starts to rise — which is not remotely the case today. Public deficits, she points out, are just another way of talking about private surpluses. She has warned of the dangers of balanced budgets that take money from the hands of ordinary people, and
4. has made some headway inside Washington. Kelton has been involved in strategy sessions with Senate Democratic Leader Chuck Schumer, D-N.Y., and remains close to Sanders, who would chair the Budget Committee if Democrats take the Senate. But Pelosi has been unmoved.
5. In a statement, Kelton said that “pay-go is a self-imposed, economically illiterate approach to budgeting.” Republicans, she said, know this, which is why “they have unabashedly used their power to expand deficits and, hence, deliver windfall gains for big corporations and
6. the already well-to-do.” She continued, “Instead of vowing budget chastity, Democrats should be articulating an agenda that excites voters so that they can unleash the full power of the public purse on their behalf.”
Please Help US! Our Lives Depend on YOU, Literally ON YOU!
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*A Picture's Worth a Thousand Words*
The US had recessions in both the early and late 2000s...when we had government surpluses or drastically reduced government deficits, which (of course) correspond with private sector deficit. And look where things stand as of 2015. 1of 4
Federal deficit reduction amounts to decreases in private sector savings as a simple matter of accounting. And you can't sustain an economy that way. The economy will go into a downturn.
2 of 4
Stop listening to these deficit reduction cranks. They don't know what they're talking about and they wreck the economy whenever they get their way, Democrat or Republican. Every. Single. Time.
3 of 4
It would be a shocking scandal if it came to light that the professions of medical science had, for decades, known about an easy to treat, underlying cause of cancer—but conspired to obfuscate and suppress the information to protect their participation in a medical industry
raking in hundreds of billions a year to treat the disease. Professional standings, tenures, licenses would be in tatters. Lawsuits would abound. Outrage would march on every city hospital and medical college in the nation—would it not?